He really might. Maybe it’s also simply something for people like us – who take way too much time trying to figure things out xD – to send on a wild goose chase.
I read in an interview that the spectators should not worry that at the end of the story Henry would just wake up and everything would be a dream. If Kitsis&Horowitz were telling the truth, then it would be weird if they used the concept for another character, right (although they might with Alice in Wonderland …)?